Project Management NINE(9) Knowledge Areas Brief Explanation
Project Integration
-is the 'umbrella' knowledge area that unifies the work done in each process group, and links it with the other process groups
Project Scope Management
-is where you define project requirements and make sure you maintain control of what the project is meant to achieve
Project Time Management
-is the knowledge area concerned with creating and managing the project schedule
Project Cost Management
-is where you estimate, finalize and manage the project budget and cost baseline
Project Quality Management
-is the knowledge area concerned with setting and auditing quality standards and making sure that deliverable s meet them
Project Human Resource Management
-include selecting and appointing the project team, managing their interactions and developing their skills
Project Communication management
-involves identifying project stakeholders, planning when and how you will communicate with them and compiling and presenting reports
Project Risk Management
-is where you consider all possible risk to the project and plan how you'll manage them if they arise
Project Procurement Management
-is when you identify all the products and services that need to be bought, select the best sellers and make sure that contractual agreements are met
Regards
MZA
9 years ago
en megat, what does it means the term 'cost baseline' under the Project Cost Management? can u give me the example.
ReplyDeleteEn Megat, what does it mean the term "cost baseline" under the Project Cost Management?
ReplyDeletecan u give me a simple example on that?
tq for asking Liana,
ReplyDeleteA cost baseline
The cost baseline is a theoretical (sometimes real) construct that captures the approved budget distributed over time. It is use to provide a comparision or contrast with actual costs and their application over time. This cost baseline is created by estimating the costs by the particular period that the project would be completed. It includes a budget contingency to accommodate the risk of incurring unidentifiable but normally occurring costs within the defined scope.
Objectives:
-to monitor and measure cost performance throughout project life cycle
-to determine performance to date - is it still within acceptable parameters.